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Home My WebLink About03-22-2017 CRA Agenda w CouncilRecess Citv Council Meetina and Convene as Communitv Redevelopment Agencv A. Call to Order and Roll Call pgs 6-7 B. Approval of Minutes — March 8, 2017 CRA Meeting 17.063 C. Fiscal Year 2016 CRA Annual Report in Accordance with F.S. 1 63.356(3)(c ) Accept pgs 8-23 and Forward to City Council (Transmittal, Report) D. Adjourn Community Redevelopment Agency Meeting 8. Adiourn Communitv Redevelooment Agencv Meetina and Reconvene as Citv Council 9. CONSENT AGENDA All items on the consent agenda are considered routine and will be enacted by one motion. There will be no separate discussion of consent agenda items unless a member City Council so requests; in which event, the item will be removed and acted upon separately. If a member of the public wishes to provide input on a consent agenda item, he/she should request a Council Member to remove the item for discussion prior to start of the meeting or by raising his/her hand to be recognized. pgs 24-34 A. Approval of Minutes — March 8, 2017 Regular City Council Meeting 17.063 B. Accept Community Redevelopment Agency (CRA) Annual Report of Activities for FY pgs 35-50 2016 as Required by FS and Announce Availability of Document to Public (Transmittal, Report) 17.064 C. Resolution No. R-17-12 — Partial Abandonment of Rear Easement at 425 Lanfair pgs 51-66 Avenue (Transmittal, R-17-12, Staff Report, Site Map, Approvals, Application) A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, VACATING A PORTION OF A CERTAIN EASEMENT ON LOT 22 AND WEST 55 FEET OF LOT 23, BLOCK 372, SEBASTIAN HIGHLANDS UNIT 11; PROVIDING FOR CONFLICTS HEREWITH; PROVIDING FOR RECORDING; PROVIDING FOR AN EFFECTIVE DATE. 17.065 D. Resolution No. R-17-13 — Partial Abandonment of Rear Easement at 821 Montrose pgs 67-82 Avenue (Transmittal, R-17-13, Staff Report, Site Map, Approvals, Application) A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, VACATING A PORTION OF A CERTAIN EASEMENT ON LOT 8, BLOCK 324, SEBASTIAN HIGHLANDS UNIT 13; PROVIDING FOR CONFLICTS HEREWITH; PROVIDING FOR RECORDING; PROVIDING FOR AN EFFECTIVE DATE. 17.066 E. Award Continuing Services Agreement (CSA#2) to Hoyle, Tanner and Assoc. in the pgs 83-84 Amount of $23,000 for the Barber Street Sports Complex Restroom Design Services (Transmittal, Fee, CSA #2) 17.058 F. Authorize Street Closings for Earth Day and Waste Management's Shredding Event pgs 85-86 on April 22, 2017 (Transmittal, Map) 17.067 G. Approve Easter Sunrise Service at Riverview Park with Use of Stage on April 16, pgs 87-93 2017 from 6:30 a.m. to 7:30 a.m. (Transmittal, Applications, Agreement, Receipt) Regular City Council & CRA Meeting March 8, 2017 Page Two �R r �• ..dr }Jy�� r� ir 17.049 C. Proclamation Red Cross Month — March 2017 - Ron Blank. Communitv Volunteer Leader. American Red Cross Mayor McPartlan read and presented the proclamation to Sarah Ruwe and Jim Anderson of the American Red Cross South Florida Region. 17.022 D. Presentation of Fiscal Year 2016 Comprehensive Annual Financial Report (CAFR and Annual Citv Audit by City Auditor. Rehmann Robson (Transmittal. Auditor Letter, CAFR Under Separate Cover) Ross Cotherman, Rehmann, Robson, LLC, highlighted sections of the audit and said the City should be very proud to be a participant in the Government Finance Officers Association review. He appreciated working with the City's staff, and given the significant staff change, it was a very good report. He offered to meet with any of the Council Members if they had any questions. Brief Announcements •, 3110117 — Chamber Concert in Riverview Park — SRHS Jazz Ensemble & Steel Drum Band — 5:30 to 8:00 pm • '3/18/17 — Pelican Island Wildlife Festival in Riverview Park —10 am to 4 pm Mayor McPartlan announced the events. 7. Recess City Council Meeting and Convene as Community Redeveloument Aaencv A. Chairman McPartlan called the CRA meeting to order at 6:23 p.m. CRA Members Present: Chairman Bob McPartlan Vice Chairwoman Andrea Coy Mr. Ed Dodd Mr. Jim Hill Mr. Linda Kinchen B. Approval of Minutes - February 8, 2017 CRA Meeting MOTION by Mr. Dodd and SECOND by Chairman McPartlan to approve the February 8, 2017 CRA minutes. ROLL CALL: Mr. Dodd —Aye Mr. Hill —Aye Ms. Kinchen —Aye Chairman McPartlan — Aye Vice Chairwoman Coy — Aye Motion carried 5-0. C. Award Septic to Sewer Grants (Transmittal) i. 712 Cleveland Street —Thomas Haynes ii. 1413 N. Central Avenue — Constance O'Quist iii. 916 U.S. Highway #1 — Irena Mliczek iv. 1627 U.S. Highway #1 — Sebastian Center, Ltd. 2 17.050 Regular City Council & CRA Meeting March 8, 2017 Page Three The City Manager said this was the first grant cycle since the program's revision. The Community Development Manager reported some newspaper articles generated interest, letters are planned to go out to all CRA property owners. She described the four properties requesting the grant and recommended award to the maximum amounts. MOTION by Chairman McPartlan and SECOND by Vice Chairwoman Coy to award grants to the four properties listed. Mr. Hill asked if the members wanted to consider weighing the award amount in the future depending on the applicant's project cost. The Community Development Manager explained that Sebastian Center's cost did include the removal of the septic tank and some additional parking which isn't related to the sewer hookup. Mr. Dodd said the current money will only help 20 properties and suggested having the City Manager seek a grant writer that specializes in this area. Vice Chairwoman Coy thanked the applicants for improving their property. ROLL CALL: Mr. Hill —Aye Ms. Kinchen —Aye Chairman McPartlan — Aye Vice Chairwoman Coy — Aye Mr. Dodd - Aye Motion carried 5-0. The City Manager offered to contact a grant writer he already is working with to look into a specialized grant writer. D. Chairman McPartlan adjourned the CRA meeting at 6:31 pm 8. Adiourn Community Redevelopment Aaencv Meetina and Reconvene as City Council 9. CONSENT AGENDA All items on the consent agenda are considered routine and will be enacted by one motion. There will be no separate discussion of consent agenda items unless a member City Council so requests, in which event, the item will be removed and acted upon separately. If a member of the public wishes to provide input on a consent agenda item, he/she should request a Council Member to remove the item for discussion prior to start of the meeting or by raising his/her hand to be recognized. A. Approval of Minutes — February 22, 2017 Regular City Council Meeting B. Resolution No. R-17-10 Amending and Restating the ICMA Deferred Compensation Plan (Transmittal, R-17-10, Roth Package, 457 Plan Contributions, 457 Roth Options) A RESOLUTION OF THE CITY OF SEBASTIAN, INDIAN RIVER COUNTY, FLORIDA, AMENDING AND RESTATING THE ICMA RETIREMENT CORPORATION 457 DEFERRED COMPENSATION PLAN AND TRUST; RESOLVING THAT THE ASSETS OF THE PLAN SHALL BE HELD IN TRUST; RESOLVING THAT THAT THE CITY OF SEBASTIAN HEREBY AGREES TO SERVE AS TRUSTEE UNDER THE PLAN; PROVIDING FOR REPEAL OF RESOLUTIONS OR PARTS OF RESOLUTIONS IN CONFLICT HEREWITH; PROVIDING FOR SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE. 3 MCW 5E BASTLM HOME OF PELICAN ISLAND COMMUNITY REDEVELOPMENT AGENCY AGENDA TRANSMITTAL CRA MEETING DATE: 22 March 2017 AGENDA ITEM TITLE: Annual Sebastian CRA Report RECOMMENDATION: Accept Annual CRA Report. BACKGROUND: Florida Statutes require the Community Redevelopment Agency to file a report of activities to the primary government by 31 March of each year, and publish a notice of availability of the report. The annual Sebastian Community Redevelopment Agency report of activities for the fiscal year ending 30 September 2016 was prepared by the Administrative Services Director/CFO. Review by the primary government entity, the Sebastian City Council, is scheduled at the Regular City Council meeting on 22 March 2017. Contingent upon acceptance by the Sebastian City Council, the City Clerk will publish a notice of the Report's availability. IF AGENDA ITEM REOUIRES EXPENDITURE OF FUNDS: Total Cost: approximately $215 for Newspaper Advertisement Amount Budgeted in Current FY: $1,500 for All Advertisements Amount of Appropriation Required: None Fund to Be Utilized for Appropriation: CRA Fund Administrative Services Department/CFO Review: J ATTACHMENTS: Annual Sebastian CRA Report City Manager Authorization: Date: 13 March 2017 SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY ANNUAL REPORT Under Chapter 163.356(3)(C) CITY OF SE13AST!AN HOME OF PELICAN ISLAND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2016 1225 MAIN STREET SEBASTIAN, FLORIDA 32958 SEBASTIAN COMMUNITY REDEVELOPMENT AGENCY ANNUAL REPORT TABLE OF CONTENTS Letter of Transmittal List of Principal Officials History Exhibit I - Sebastian CRA Boundary Accomplishments FY 2016 Sebastian CRA Activities i ii 3 3 Tax Increment Revenues 4 Exhibit II — Operating Millage Rates in Redevelopment Area 5 Exhibit III — Taxable Value in Redevelopment Area 6 Exhibit IV — Tax Increment Revenue 7 Financial Statements 8 Balance Sheet 9 Statement of Revenues, Expenditures, and Changes in Fund Balances 10 Budget and Actual 11 CUOf SEBAST�V HOME OF PELICAN ISLAND March 15, 2017 Sebastian Community Redevelopment Agency Board Chairman and Members City of Sebastian, Florida Dear Board Members: We are pleased to submit the Annual Activity Report of the Sebastian Community Redevelopment Agency for the fiscal year ended September 30, 2016. Section 163.356(8)(C), Florida Statutes, requires each CRA to file with its governing body, on or before March 31 each year, a report of its activities for the proceeding fiscal year, which report shall include a complete financial statement setting forth its assets, liabilities, income, and operating expenses as of the end of such fiscal year. In addition to meeting this legal requirement, the report provides additional information concerning the benefits afforded by the agency to other jurisdictions and citizenry in general. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the management of the City. We believe the data, as presented, is accurate in all material respects, and that all disclosures necessary to enable the reader to gain an understanding of the Sebastian CRA's operation and financial activity have been included. Respectfully submitted, /f(-� ` Kenneth W. Killgore Administrative Services Director City of Sebastian i LIST OF PRINCIPAL OFFICIALS September 30, 2016 :�1IT.t .t' M Board Member Board Member Board Member Board Member Bob McPartlan Jerome Adams Andrea Coy Richard Gillmor Jim Hill History of the Sebastian Communitv Redevelopment Auenev (Sebastian CRA) The Sebastian Community Redevelopment Agency (Sebastian CRA) was created in 1995 by the City of Sebastian City Council under Chapter 163, Part III of the Florida Statutes. The original Sebastian CRA includes an area generally east of the FEC Railroad right-of-way to the eastern City limits. The Sebastian CRA was established to ensure that the downtown and surrounding vicinity would develop with a coherent community vision, and to encourage reinvestment throughout the CRA. The area later was expanded in 2003 to include the Sebastian Boulevard "Triangle" area west of the FEC Railroad right-of-way. The total Sebastian CRA area is 299 acres excluding road rights - of -way (Exhibit 1). The governing body of the Sebastian CRA is the Sebastian City Council. The Board is comprised of five (5) members. Under the State Statutes and the City ordinances, the Sebastian CRA has substantial powers and authority within the Sebastian CRA area. These include the power to make and execute contracts, to acquire and dispose property, to approve development plans, to implement a program of voluntary or compulsory rehabilitation of buildings, to mortgage its property, to borrow and invest money, and to apply for and accept grants and contributions. The major funding source for the Sebastian CRA is tax increment revenue. Tax increment revenue is the increase in ad valorem tax attributed to the increase in the assessed value over a `base year" for various jurisdictions in the redevelopment area. The jurisdictions remitting tax increment revenue to the Sebastian CRA are the City of Sebastian and the Indian River County Board of County Commissioners. After the establishment of the Sebastian CRA in 1995, the City established the Redevelopment Trust Fund and the base year for tax increment revenues as well as adopted the 1995 Community Redevelopment Plan. The boundary was later expanded to include the adjacent Sebastian Boulevard "Triangle" area in 2003, and the redevelopment plan was also modified by the Iler Planning Group on behalf of the Sebastian CRA. The 2003 plan basically unifies the 1995 Sebastian CRA boundary and the expansion area as one cohesive CRA, and presents conceptual district recommendations, potential policy amendments, and capital improvements intended to meet the City's redevelopment goals. • • Legend • Gateway �' - --Tratment � � --�A CRA Boundary Gateway Treatment y k _ Rlvrnlde Drive �11 SimUapes and Packet Parks Areawide RecnmmendafioM 1. Retain 2-3 story rtmrtimum building height- - - 2 Main Street aw Aetivily, Center 2. Modify community, design guidelines to of —;1— -'•i\ �� reinforce: "Old Florida—•'-�'' \' Fishing Village" design theme. 7. Future study to further address parking .�---;,�+rj l?� needs In the CRA. 'r t,N' Capital lmnrDVements g s US I stementapo -' 8q and "Build to 1. Riverview Park improvemrnrs. ---- -----f-. ree _ Stt" € 2. Strtxtscape improvemrnta m US-1, Riverside Drive, and Sebastian Boulevard (east and westbound). _' - ii""_•'�y l 7 t Rlvrrvinw Part }. Rsxonfigure boat trailer parking. f Aetivlty Center Boulevard 4. Develop a stormwater Pa+kTrion ' „✓'' Potenilel CRA -fir Rkdeygtbpnreh(y� ° e` Expansion to mprove ivervlew Park - C' Gateway M T a. Trasmen, T A , Gamma. or -„ y \i ratment ?� Redevelopment Plan SununkCv Man City of Sebastian CRA C�/l sEB�q, IR7-4,w Ninky+km and Associates, Inc. Figure t Accomnlishments of the Sebastian Community Redevelopment Asencv (Sebastian CRA) Since the establishment of the original Sebastian CRA in 1995, numerous projects have been accomplished. Accomplishments are as follows: ❑ Provided annual funding support to festivities such as Riverfront Christmas decorations, Clam Bake festival, fine art festival, concert in the park, and Pelican Island celebration since the year 2000. ❑ Completed Riverview Park Phase I, boat dock, landscaping, and shoreline stabilization project in 2001. ❑ Developed community redevelopment master plan in 2003. ❑ Completed Jackson Street extension, sidewalk, and street light project in 2004. ❑ Completed improvements to the Yacht Club. ❑ Completed construction on the Indian River Drive/Main Street project. ❑ Established a Fagade, Sign and Landscaping matching grant program. ❑ Received contribution from the Clambake Foundation and provided the balance of funding for the Flag Pole project, which enhanced the view at the western entrance to the CRA area. ❑ Designed billboard advertisements and rented billboards on Highway I-95. ❑ Contributed $20,000 to a film production about the story of Pelican Island. ❑ Constructed information boards at Riverview Park and at the Park at Indian River Drive/Main Street. ❑ Updated the CRA Master Plan in 2010. ❑ Completed construction on the Yacht Club finger pier project. ❑ Provided matching funds to the Stan Mayfield Grant that was used for the purchase of the Working Waterfront Properties. ❑ Executed lease with Crab E. Bills for a commercial retail fish market and a retail commercial limited food service "Eatery". ❑ Established a Sewer Connection Grant Program to encourage reduction of seepage into the Indian River Lagoon. ❑ Completed roadway improvements to the Presidential Streets. FY 2016 Sebastian CRA Activities The Sebastian CRA is treated as a special revenue fund of the City. An independent financial audit by an external CPA firm has been accomplished annually to be in compliance with Section 163.387(8), Florida Statutes. An annual budget is also adopted by the Sebastian CRA Board to be in compliance with Section 189.418(3). Major activities and accomplishments of the Sebastian CRA in 2016 included: ❑ Provided financial support for the clam bake, concert in the park events and fine art festival. ❑ Provided funding for Holiday decorations. ❑ Made necessary repairs to the Working Waterfront properties. ❑ Contracted for professional mowing and landscaping services. ❑ Made improvements to the CavCorp boat parking property. 3 Tax Increment Revenue The tax increment revenue is determined annually as 95 percent of the difference between: (a) the amount of ad valorem taxes levied each year by each taxing authority contributing to the Sebastian CPA on taxable real property contained within the redevelopment area, exclusive of the following entities: Florida Inland Navigation District Indian River County Mosquito Control District Indian River County Hospital Maintenance District School District, and associated General Obligation Debt funded by ad valorem taxes Indian River County Land Acquisition Bond General Obligation Debt Emergency Services Dependent Taxing District St. Johns River Water Management District Sebastian Inlet Taxing District and (b) the amount of ad valorem taxes which would have been generated by the rate at which the tax is levied each year by the taxing authority, exclusive of the following entities: Florida Inland Navigation District Indian River County Mosquito Control District Indian River County Hospital Maintenance District School District, and associated General Obligation Debt funded by ad valorem taxes Indian River County Land Acquisition Bond General obligation Debt Emergency Services Dependent Taxing District St. Johns River Water Management District Sebastian Inlet Taxing District upon the total of the assessed value of the taxable real property in the community redevelopment area as shown on the assessment roll used by each taxing authority prior to March 22, 1995, the effective date of the ordinance creating the Redevelopment Trust Fund. Indian River County Board of County Commissioners and the City of Sebastian currently make tax increment payments into the Sebastian CRA Trust Fund. 13 The actual implementation of the tax increment financing was delayed until FY 2001. The City's millage has decreased from $5.00 per $1,000 in FY 2001 to $3.8556 per $1,000 in FY 2016. The millage for Indian River County has been decreased from $4.1014 per $1,000 in FY 2001 to $3.3602 per $1,000 in FY 2016. Rates from 2001 through 2016 are presented in Exhibit II below. Exhibit IV Sebastian Community Redevelopement Agency Tax Increment Revenue Fiscal Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 $600,000 $500,000 $400,000 $300,000 $00:0000 H H H $100000 Indian City River of Coun Sebastian Total $42,373 $51,656 $94,029 89,664 101,625 191,289 87,877 104,157 192,034 114,289 136,705 250,994 126,886 160,753 287,639 160,051 178,786 338,837 282,546 270,195 552,741 252,885 250,499 503,384 251,236 273,888 525,124 206,450 223,585 430,035 143,720 153,900 297,620 123,248 131,821 255,069 120,886 145,437 266,323 127,169 144,891 272,060 137,535 158,885 296,420 157,874 181,150 339,024 Tax Increment Revenue ZOOS ZO02 ZO03 ZOO, 2005 ZO06 200, .01, ,Loll' TO` 1012 VN,3 VO 2015 2016 Fiscal Year Source: City of Sebastian Administrative Services Department E The taxable value of real property in the redevelopment area has risen significantly during the same period. In FY 2001 the total taxable value of the redevelopment area was $45.8 million. Compared to FY 2016 total taxable value of $91.0 million, the taxable value of the redevelopment area has increased by 98.6%. After subtracting the base year values, the 2016 incremental value has increased almost four and one-half times the 2001 value. The taxable values in redevelopment area from 2001 through 2016 are presented in Exhibit III below. Exhibit III Sebastian Community Redevelopement Agency Taxable Value in Redevelopment Area Taxable Base Year Incremental Fiscal Year Value Value Value 2001 $45,834,920 $34,959,870 $10,875,050 2002 58,263,740 34,959,870 23,303,870 2003 58,844,190 34,959,870 23,884,320 2004 66,307,980 34,959,870 31,348,110 2005 78,424,554 41,561,980 36,862,574 2006 89,418,550 41,561,980 47,856,570 2007 134,755,060 41,561,980 93,193,080 2008 129,700,130 41,561,980 88,138,150 2009 127,735,740 41,561,980 86,173,760 2010 111,909,020 41,561,980 70,347,040 2011 90,533,980 41,561,980 48,972,000 2012 83,558,060 41,561,980 41,996,080 2013 82,753,350 41,561,980 41,191,370 2014 82,598,780 41,561,980 41,036,800 2015 84,939,810 41,561,980 43,377,830 2016 91,018,390 41,561,980 49,456,410 100.0 90.0 80.0 0 70.0 0 60.0 0 50.0 N 40. 0 30. = 20. 1 g 0. 0. Tax Increment Values % Change in Incremental Value 114.29% 2.49% 31.25% 17.59% 29.82% 94.73% -5.42% -2.23% -18.37% -30.39% -40.30% -15.89% -2.28% 5.31% 20.52% 0 0 2001 2002 Z003 200A 2006 SO06 Too' 2006 ZOOS 2010 2011 2012 TO13 Z01A 2016 2016 Fiscal Year Source: City of Sebastian Administrative Services Department Based on the millage rates and the significant increases in taxable values, the tax increment revenue has risen dramatically. In 2001, the total tax increment revenue was $94,029. In 2016, the tax increment revenue has increased to $339,024 but this is a 38.7% decrease from the high year of 2007. The tax increment revenues for the redevelopment area for the Fiscal Year 2001 through 2016 are presented in Exhibit IV below. Exhibit IV Sebastian Community Redevelopement Agency Tax Increment Revenue Indian City River of Fiscal Year County Sebastian Total 2001 $42,373 $51,656 $94,029 2002 89,664 101,625 191,289 2003 87,877 104,157 192,034 2004 114,289 136,705 250,994 2005 126,886 160,753 287,639 2006 160,051 178,786 338,837 2007 282,546 270,195 552,741 2008 252,885 250,499 503,384 2009 251,236 273,888 525,124 2010 206,450 223,585 430,035 2011 143,720 153,900 297,620 2012 123,248 131,821 255,069 2013 120,886 145,437 266,323 2014 127,169 144,891 272,060 2015 137,535 158,885 296,420 2016 157,874 181,150 339,024 Tax Increment Revenue $600,000 $500,000 r $400,000 - - - $300,000 $200,000 $100,000 $0 Tp01 TpOT Tp03 TpOA Tp05 Tp05 vp ' TpOa Tp09 Tp1' 1011 TO" TO." TQ1A Tp15 T010 Fiscal Year (1) The revenues include the triangle area, which was added in the redevelopment area in 2003. Source: City of Sebastian Administrative Services Department 7 Financial Statements The Sebastian CRA is considered a blended component unit of the City and therefore it is included in the City's annual financial audit. In order to meet the requirement of Section 163.387(8), Florida Statutes, which requires the CRA to provide for annual audit of the redevelopment trust fund, the Sebastian CRA has been treated as a major fund of the City. The financial statements included herein are unaudited statements of the Sebastian CRA. Audited statements are included in the City's Comprehensive Annual Financial Report (CAFR) for the fiscal year ending September 30, 2016 and may be obtained in the City Clerk's office 1225 Main Street, Sebastian, Florida or online at httt)://www/citvofsebastian.orQ. Sebastian Community Redevelopment Agency, Florida Balance Sheet September 30, 2016 Unaudited ASSETS Cash and cash equivalents $ 363,678 Investments 97,232 Total assets $ 460,910 LIABILITIES AND FUND BALANCE Liabilities: Accounts payable $ 2,857 Total liabilities 2,857 Fund balances: Restricted 458,053 Total fund balance 458,053 Total liabilities and fund balance $ 460,910 6 Sebastian Community Redevelopment Agency, Florida Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended September 30, 2016 Unaudited REVENUES: Taxes: Property $ 339,024 Investment earnings 3,019 Other revenue 36,000 Total revenues 378,043 EXPENDITURES: Current: General government 2,033 Economic environment 331,589 Capital outlay: Captial outlay 15,084. Total expenditures 348,706 Excess (deficiency) of revenues over (under) expenditures 29,337 OTHER FINANCING USES: Transfers in 10,600 Transfers out (28,612) Total other financing uses (18,012) Net changes in fund balance 11,325 Fund balance - beginning 446,728 Fund balance - ending $ 458,053 10 Sebastian Community Redevelopment Agency, Florida Schedule of Revenue, Expenditures, and Changes in Fund Balances Budget and Actual For the Year Ended September 30, 2016 Unaudited REVENUES: Taxes: Property Investment earnings Other revenue Total revenues EXPENDITURES: Current: General government Economic environment Capital outlay Total expenditures Excess (deficiency) of revenues over (under) expenditures OTHER FINANCING USES Transfers in Transfers out Total other financing (uses) Net changes in fund balances Fund balances - beginning Fund balances - ending Actual Variance with Budget Amounts Amounts on Final Budget - a Budgetary Positive Original Final Basis (Negative) $ 325,099 $ 325,099 $ 339,024 $ 13,925 440 440 3,019 2,579 36,000 36,000 36,000 - 361,539 361,539 378,043 16,504 2,568 2,568 2,033 (535) 258,355 532,351 331,589 (200,762) - 8,500 15,084 6,584 260,923 543,419 348,706 (194,713) 100,616 (181,880) 29,337 211,217 64,384 10,600 10,600 - (165,000) (220,417) (28,612) 191,805 (100,616) (209,817) (18,012) 191,805 - (391,697) 11,325 403,022 446,728 446,728 446,728 - $ 446,728 $ 55,031 $ 458,053 $ 403,022 11